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Zimmerman's Research Guide


Accounting Standards

There are several kinds of accounting standards:

Financial: As of July 1, 2009, authoritative Standards by the Financial Accounting Standards Board (FASB) are published in the FASB Accounting Standards Codification (FASB Codification). You can either register for free "Basic View" access to the Codification or subscribe to get advanced features. The Codification is also searchable on Comperio.

Prior to July 1, 2009, FASB issued several different types of standards, which were published published in Accounting Standards: Original Pronouncements and Current Text: Accounting Standards. The standards and their "status" (date issued, sections it affects, other materials that affect it) are still available free on the FASB Web site, as well as through the FARS CD-ROM, RIA's Checkpoint and CCH's Accounting Research Manager.

See also "Financial Accounting Standards Board."

The American Institute of Certified Public Accountants publishes a multi-volume looseleaf called Professional Standards that includes the AICPA's accounting standards. AICPA Professional Standards are also available through RIA's Checkpoint, CCH's Accounting Research Manager and the AICPA's "reSOURCE online" database on CPA2Biz.com.

In the United Kingdom, financial accounting standards are published by the Accounting Standards Board and are known as ASB Standards. They are cited as "FRS 1," "FRS 5," etc. The Accounting Standards Board is located in London.

Government: The U.S. Government Accounting Standards Board (GASB) creates accounting standards for state and local governments. GASB publishes its standards and other materials in print or CD-ROM, individually or compiled in Government Accounting Standards, GASB's Original Pronouncements or codified in the Codification of Governmental Accounting and Financial Reporting Standards. These publications are sold through the GASB Store. Original Pronouncements is also available through RIA's Checkpoint and CCH's Accounting Research Manager.

Standards by the Federal Accounting Standards Advisory Board are posted on the FASAB Web site .

International: International accounting standards are promulgated by the International Accounting Standards Board (IASB) and the International Standards Committee (IASC). The IASB is the the "independent standard-setting body" of the International Financial Reporting Standards (IFRS) Foundation," and the IFRS serves as "the oversight body" for the IASC. You can find out more about the IASB, the IASC and the IFRS on the IFRS web site.

The IASC publishes a book called International Financial Reporting Standards (IFRS), which includes all the IASB's "International Financial Reporting Standards (IFRS), International Accounting Standards (IAS), Interpretations and IASB-issued supporting documentation - Bases for Conclusions, Implementation Guidance and Illustrative Examples." This book and others, including the Guide to International Financial Reporting Standards is available from the IFRS Foundation Online Shop.

In addition, the IRFS posts its Standards (IFRSs); some are available free and some require a subscription to eIFRS.

In addition, ISAB materials are available through CCH's Accounting Research Manager. Some international accounting standards are published in the AICPA's Professional Standards.

Securities: The SEC's securities-related accounting rules are called Regulation S-X. Regulation S-X is published in the Code of Federal Regulations and anywhere else SEC regulations are published (see "Securities and Exchange Commission"). In addition, there is a collection of SEC regulations and related accounting materials on RIA's Checkpoint and CCH's Accounting Research Manager.

See Also
American Institute of Certified Public Accountants
Accounting Firms
Accounting Principles
Auditing Standards
Code of Federal Regulations
Comfort Letters
Emerging Issues Task Force
Financial Accounting Standards Board
Securities and Exchange Commission

For comments, questions and suggestions, email the author
Copyright 2015 Andrew Zimmerman